News // Companies
Qatar Petroleum signs 5-year light naphtha sale agreement with Japan´s Marubeni
13 February 2019 , 18:00Neftegaz.RU544
Doha, February 13 - Neftegaz.RU. Qatar Petroleum has concluded a 5-year sales agreement to supply Japan’s Marubeni Corporation an annual total of 200,000 metric tons of Light Naphtha starting from January 2019.
Saad Sherida Al-Kaabi, CEO of Qatar Petroleum, said: «This agreement does not just strengthen our relations with Marubeni, but also reflects our strengthened ability to produce and export Naphtha to the Asian market safely and reliably.»
The agreement is the 3rd such agreement to be concluded with Marubeni Corporation since both parties started their naphtha business together over 3 decades ago. The previous 2 long term Naphtha sales agreement with Marubeni Corporation were concluded in 2018.
Fumiya Kokubu, CEO of Marubeni Corporation commented: «This latest Naphtha sales agreement, being part of the 3 recently concluded long term naphtha deals, affirms the high level of trust and cooperation as the cornerstone of the relationship between our organisations.»
Qatar Petroleum and Marubeni Corporation have a long-standing strategic partnership through several shared investments in the energy industry. This includes Qatar Liquefied Gas Company Limited (Qatargas 1), which produces and exports about 10 million tons of LNG per annum, and the 2 Ras Laffan-based condensate refineries, Laffan Refinery 1 and 2, which have a combined daily processing capacity of 292,000 barrels.
In addition, Japan´s Marubeni and Qatar Petroluem are investors in the Qatar-based 2000 MW Mesaieed Independent Power Plant, Mesaieed Power Company Ltd (MPCL).
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